Smead Capital Management Inc. Invests $4.26 Million in Garrett Motion Inc. $GTX

Key Points

• Smead Capital Management initiated a new position in Garrett Motion, buying 244,261 shares worth about $4.26 million, making GTX its 29th largest holding.
• Garrett Motion has attracted broad institutional interest, with 86.27% of shares held by hedge funds and other institutions; several firms also recently boosted their stakes.
• Analysts remain generally bullish on GTX, with multiple price-target increases and an average rating of “Moderate Buy”; the stock also beat quarterly EPS and revenue estimates and recently announced a $0.08 quarterly dividend.

Smead Capital Management Inc. purchased a new position in shares of Garrett Motion Inc. (NASDAQ:GTX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 244,261 shares of the company's stock, valued at approximately $4,257,000. Garrett Motion makes up 0.1% of Smead Capital Management Inc.'s investment portfolio, making the stock its 29th largest position. Smead Capital Management Inc. owned 0.13% of Garrett Motion as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its stake in shares of Garrett Motion by 7,110.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,442 shares of the company's stock worth $25,000 after purchasing an additional 1,422 shares in the last quarter. Spire Wealth Management increased its holdings in shares of Garrett Motion by 971.2% during the 4th quarter. Spire Wealth Management now owns 1,489 shares of the company's stock valued at $26,000 after acquiring an additional 1,350 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Garrett Motion by 156.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,589 shares of the company's stock valued at $28,000 after acquiring an additional 970 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Garrett Motion by 1,422.3% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,705 shares of the company's stock valued at $30,000 after acquiring an additional 1,593 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Garrett Motion during the 1st quarter valued at about $42,000. 86.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GTX shares. BWS Financial increased their price objective on Garrett Motion from $32.00 to $42.00 and gave the company a "buy" rating in a report on Thursday. Stifel Nicolaus increased their price objective on Garrett Motion from $29.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Weiss Ratings started coverage on Garrett Motion in a report on Wednesday, April 29th. They set a "buy (b)" rating on the stock. Royal Bank Of Canada set a $42.00 price objective on Garrett Motion in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Garrett Motion from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.83.

Garrett Motion Stock Up 0.2%

GTX opened at $33.29 on Friday. The firm has a market capitalization of $6.23 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 1.11 and a beta of 0.70. The stock's 50 day moving average price is $22.06 and its two-hundred day moving average price is $19.43. Garrett Motion Inc. has a 12-month low of $9.57 and a 12-month high of $34.34.

Garrett Motion (NASDAQ:GTX - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.06. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $917.23 million. Garrett Motion had a negative return on equity of 42.77% and a net margin of 9.29%.The business's revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, analysts anticipate that Garrett Motion Inc. will post 1.83 earnings per share for the current year.

Garrett Motion Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. Garrett Motion's dividend payout ratio (DPR) is 18.71%.

Insiders Place Their Bets

In other Garrett Motion news, Director Julia Steyn sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $19.86, for a total value of $337,620.00. Following the sale, the director owned 50,233 shares of the company's stock, valued at $997,627.38. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Daniel Deiro sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $20.29, for a total value of $405,800.00. Following the completion of the sale, the senior vice president directly owned 160,994 shares in the company, valued at $3,266,568.26. This trade represents a 11.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 354,178 shares of company stock worth $7,375,587. Corporate insiders own 1.10% of the company's stock.

Garrett Motion Company Profile

Garrett Motion Inc is a technology leader specializing in the design, development and manufacture of turbocharging systems and related technologies for the global automotive industry. Its product portfolio includes conventional exhaust gas turbochargers, variable-geometry turbochargers, electric and e-boost turbochargers, as well as electronic actuators, sensors and thermal management systems. The company’s solutions are engineered to improve engine efficiency, reduce emissions and support automakers’ efforts to meet evolving regulatory standards for fuel economy and air quality.

Garrett Motion traces its roots to the founding of AiResearch by Cliff Garrett in 1936, a pioneer in aircraft and automotive turbocharging technologies.

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